HomeMy WebLinkAbout4843-20 Resolution encouraging a minimum annual percentage of TIF to be allocated to benefit all areas in each TIF District RE§OTOION
Passed by the Common Council of the City of South Bend, Indiana
February 24, 20 20
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)7(- • ✓Attest: /ciA) City Clerk
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Attest �� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
February 24, 20 20.
City Clerk
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Approved and signed by me h r `' / 20 o
Filed in Clerk's Office
SUBSTITUTE BILL NO. 20-01
RESOLUTION NO. 4843-20 J FEB 2 4 2020
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,INDIANA
ENCOURAGING A MINIMUM ANNUAL PERCENTAGE OF THE TAX INCEMENTAL FN-ACING'A M)
FROM EACH TIF DISTRICT TO BE ALLOCATED TO,AND APPROPRIATED FOR,TANGIBLE
INFRASTRUCTURE IMPROVEMENTS BENEFITING ALL AREAS IN EACH TIF DISTRICT
I The South Bend Common Council acknowledges that The South Bend Redevelopment
Commission has been established, in part, to identify areas of South Bend in need of redevelopment; and
8.4,The South Bend Common Council also acknowledges that Tax Incremental Financing(TIF) is a
useful tool in redeveloping certain identified areas (TIF Districts) in need of redevelopment; and
ate,there are currently four(4) active TIF Districts in the City of South Bend; and
6lif.ad, each TIF District includes residential areas, from which the taxes are not generally captured by
the TIF District; and
6)fs ,TIF revenue is generated from an increase in taxes paid by commercial properties; and
611‘ ,TIF is used to encourage economic growth and revitalization, which, in turn, increases TIF
contributions through an increase in assessments and tax revenue paid by such commercial properties; and
Elf , all areas within each TIF District should receive the tangible and intangible benefits of
redevelopment within each TIF District; and
O , tangible benefits include public improvements allowed by Ind. Code 36-7-1-3 and 36-7-1-18
which can include infrastructure, such as curbs, sidewalks, streets, improved street lighting, storm water
drainage, and alley improvements in certain cases; and
Ofc.4, Ind. Code 36-7-14-3 gives the Common Council the statutory obligation to review the budget of
and oversee the South Bend Redevelopment Commission through the Common Council's appointment of two
(2) of the five (5) voting members to the South Bend Redevelopment Commission; and
6}y , The South Bend Redevelopment Commission already has existing commitments for a portion of
the funds for each TIF District; and
6 , the South Bend Common Council, as the body that reviews the budget and maintains a voting
membership in the South Bend Redevelopment Commission, strongly encourages the South Bend
Redevelopment Commission to allocate a minimum of 5% of the funding from each TIF District for public
improvements to infrastructure such as curbs, sidewalks, streets, improved street lighting, storm water drainage,
and alley improvements that are allowed by statute; and
601.74, Governor Holcomb signed into law Senate Enrolled Act 566-2019 on May 5, 2019 that allows a
redevelopment commission to create a tax increment finance district for residential property("residential TIF").
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Section I. The South Bend Common Council believes that all areas within each TIF District should
receive the tangible and intangible benefits of redevelopment within each district.
Section II. The South Bend Common Council supports the use of TIF funding within each TIF District
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to improve the infrastructure as allowed by statute within each TIF District, including residential areas.
Section III. The South Bend Common Council strongly encourages the South Bend Redevelopment
Commission
(1) to allocate a minimum of 5% of the funding from each TIF District for public improvements to
infrastructure such as curbs, sidewalks, streets, improved street lighting, storm water drainage, and
alley improvements that are allowed by statute; and
(2) to explore the implementation of residential TIF.
Section IV. The South Bend Common Council strongly encourages the Administration, to the extent
that bidding for these public improvements is not otherwise governed by the South Bend Municipal
Code, State or Federal law, to locate and utilize, to the greatest extent possible, minority contractors when
bidding TIF related projects in our neighborhoods.
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Ti , cott, 11 ouncil Member Sheila Niezgodt,4r.
,. istrict Council Member
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Henry Davir 1trictCouncil Member on
Hamann, At Large Council Member
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Sharo cBride, 3rd District Council Member Rachel Tomas Morgan,At Lar_e Council
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Troy Warner,4th District Council Member aren L. White, AttLarge Co cil Member
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e Teshka, 5th District Council Member Robert J. Pal r, Council Attorney
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Dawn M. Jones, City C erk
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